Borden Inc.

ON THE RECORD - EARNINGS

July 29, 1993

NEW YORK — Borden Inc. said second-quarter results fell 65 percent, as reduced product shipments and increased competition pulled down sales and earnings at its North American food businesses. Borden said net income fell to $27.7 million from $79.3 million a year earlier. Sales slumped 6 percent to $1.66 billion from $1.76 billion.